New updates have been reported about Databricks (PC:DTBRK)
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Databricks has achieved significant financial milestones, reporting a $4 billion revenue run-rate in Q2, marking over 50% year-over-year growth. The company’s AI products have also surpassed a $1 billion revenue run-rate. In addition to these achievements, Databricks has maintained positive free cash flow over the past year. The company is closing a $1 billion Series K funding round, which values Databricks at over $100 billion. This funding round is co-led by prominent investors including Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management.
The new capital will be strategically deployed to accelerate Databricks’ AI initiatives, particularly the expansion of Agent Bricks and the launch of the new Lakebase category. Agent Bricks is designed to create high-quality AI agents optimized for enterprise data, while Lakebase represents a new category of operational databases built on open-source Postgres, tailored for AI applications. This investment will also support potential AI acquisitions and further AI research. Databricks continues to build momentum with recent partnerships with major tech players like Microsoft, Google Cloud, and SAP, and has expanded its physical presence with new office leases in San Francisco and Sunnyvale to attract top AI talent. CEO Ali Ghodsi emphasizes that the company is focused on building the data and AI infrastructure that enterprises will depend on in the coming decades.